I assume whether it is stated sufficient occasions it needs to be true or does it must be? The Biden rescue since he took workplace is much better than what we skilled in 2008 onward.
But One other within the Financial system Is Dangerous Underneath Biden Collection
by Dean Baker
Like different main information shops, the Washington Put up is completely pleased to disregard the info to let you know the financial system is unhealthy beneath Biden.
Previous entries on this collection included the numerous items telling us younger folks have given up ever having the ability to personal a house, regardless that the variety of younger people who find themselves owners is significantly increased than earlier than the pandemic, the CNN traditional telling us concerning the retirement disaster regardless that the web price of close to retirees is up virtually 50 % from 2019, and the Washington Put up and New York Instances items telling us new faculty grads couldn’t discover jobs regardless that their unemployment price is close to a twenty 12 months low. currenthvspress.pdf (census.gov)
The media are completely decided to inform everybody the financial system is terrible despite the longest stretch of low unemployment in additional than 70 years, wholesome actual wage progress, particularly on the backside, despite the pandemic, and file ranges of job satisfaction. The media won’t be deterred by excellent news in its effort to inform its viewers that the Biden-Harris financial system is terrible.
Right this moment’s entry within the knowledge be damned terrible Biden financial system saga is an opinion piece that tells us in its title, “A big problem for young workers: 70- and 80-year-olds who won’t retire.” The story is that youthful employees are being blocked of their profession paths by old-timers who refuse to retire. (The observant ones on the market would possibly recall that we have been imagined to be bothered by the flood of retirees who needed to be supported by youthful folks nonetheless within the workforce. Oh effectively, each conditions are terrible.)
Anyhow, the punch line within the piece is a graph that purportedly reveals a rise within the ratio of the wages of older employees to youthful employees. The issue is the graph really doesn’t present a continuous improve within the ratio of the pay of older employees to youthful employees.
It does present an increase from the Seventies till round 2010. It then ranges off after which has trended down barely from 2012 till 2018, which is the final 12 months in graph. At that time, it was roughly again to its 2000 stage.
There might have been a narrative in these knowledge, however that was a decade in the past when the ratio was peaking. It’s greater than a bit weird that the Washington Put up would select to focus on this development now. However when you could have an financial system that’s doing nice by virtually each normal measure, I assume it’s essential to dig deep to inform the unhealthy financial system story. The Washington Put up deserves an enormous hand MAGA for this one!
David Doney @David Charts: “Quarterly Residential Vacancies and Homeownership, Second Quarter 2024. Home ownership rate was higher overall in Q2 2024 than Q4 2019 pre-pandemic. In general, age 35-64 had higher ownership rates, while under 35 and over 65 had lower rates. See table 6.”
